Taussig’s Approach to the Comparative Cost Theory | Economics
In this article we will discuss about:- 1. Comparative Costs Theory Expressed in Money Terms— Taussig's Contribution 2. Taussig's Refinement Related to Non-Competing Groups 3. Taussig's Refinement Related to Charges on Capital. Comparative Costs Theory Expressed in Money Terms— Taussig's Contribution: In the Ricardian comparative costs principle, an assumption is taken that money does not exist and production is measured [...]